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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 1, 1999
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VENCOR, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-14057 61-1323993
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization Identification No.)
One Vencor Place
680 South Fourth Street
Louisville, Kentucky
(Address of principal executive offices)
40202-2412
(Zip Code)
Registrant's telephone number, including area code: (502) 596-7300
Not Applicable
(Former name or former address, if changed since last report.)
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Items 1-4. Not Applicable.
Item 5. Other Events
Vencor, Inc. (the "Company") announced that the United States
Bankruptcy Court for the District of Delaware (the "Court") gave final approval
to the Company's $100 million debtor-in-possession financing (the "DIP
Financing") with a bank group led by Morgan Guaranty Trust Company of New York.
The DIP Financing and existing cash flows will be used to fund the Company's
operations during the restructuring. As of October 1, 1999, the Company had no
outstanding borrowings under the DIP Financing. The Court also approved the
Company's motion to establish a vendor reclamation procedure.
The Company and its subsidiaries filed voluntary petitions for
reorganization under Chapter 11 with the Court on September 13, 1999.
Certain statements set forth above, including, but not limited to,
statements containing the words "anticipates," "believes," "expects," "intends,"
"will," "may" and similar words constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such forward-
looking statements are based on management's current expectations and include
known and unknown risks, uncertainties and other factors, many of which the
Company is unable to predict or control, that may cause the Company's actual
results or performance to differ materially from any future results or
performance expressed or implied by such forward-looking statements. These
statements involve risks, uncertainties and other factors detailed from time to
time in the Company's filings with the Securities and Exchange Commission. Such
factors may include, without limitation, the delays or the inability to complete
the Company's plan of reorganization; the availability and terms of capital in
light of recent losses, cash flow shortfalls and the Company's Chapter 11
bankruptcy filing; adverse actions which may be taken by creditors and the
outcome of various bankruptcy proceedings; the Company's ability to attract
patients given its current financial position; and the effects of healthcare
reform and legislation on the Company's business strategy and operations. The
Company cautions investors that any forward-looking statements made by the
Company are not guarantees of future performance. The Company disclaims any
obligation to update any such factors or to announce publicly the results of any
revisions to any of the forward-looking statements included herein to reflect
future events or developments.
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
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Not applicable.
(c) Exhibits.
Exhibit 99.1 Press Release dated October 1, 1999.
Items 8-9. Not Applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
VENCOR, INC.
Dated: October 4, 1999 By: /s/ Richard A. Lechleiter
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Richard A. Lechleiter
Vice President, Finance,
Corporate Controller and
Treasurer
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Exhibit 99.1
[Logo of Vencor, Inc. appears here]
CONTACT: Richard A. Schweinhart
Senior Vice President and Chief Financial Officer
(502) 596-7379
Richard A. Lechleiter
Vice President, Finance,
Corporate Controller and Treasurer
(502) 596-7734
Susan E. Moss
Vice President of Corporate Communications
(502) 596-7296
VENCOR RECEIVES FINAL COURT APPROVAL OF ITS $100 MILLION
DEBTOR-IN-POSSSESION FINANCING
Louisville, KY (October 1, 1999) ---Vencor, Inc. (the "Company") today
announced that the United States Bankruptcy Court for the District of Delaware
(the "Court") gave final approval to the Company's $100 million debtor-in-
possession financing (the "DIP Financing") with a bank group led by Morgan
Guaranty Trust Company of New York. The DIP Financing and existing cash flows
will be used to fund the Company's operations during the restructuring. As of
October 1, 1999, the Company had no outstanding borrowings under the DIP
Financing. The Court also approved the Company's motion to establish a vendor
reclamation procedure.
Vencor and its subsidiaries filed voluntary petitions for reorganization
under Chapter 11 with the Court on September 13, 1999.
Vencor, Inc. (OTC/BB: VCRI) is a long-term healthcare provider operating
nursing centers, hospitals, and contract ancillary services in 46 states.
Certain statements set forth above, including, but not limited to,
statements containing the words "anticipates," "believes," "expects," "intends,"
"will," "may" and similar words constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such forward-
looking statements are based on management's current expectations and include
known and unknown risks, uncertainties and other factors, many of which the
Company is unable to predict or control, that may cause the Company's actual
results or performance to differ materially from any future results or
performance expressed or implied by such forward-looking statements. These
statements involve risks, uncertainties and other factors detailed from time to
time in the Company's filings with the Securities and Exchange Commission. Such
factors may include, without limitation, the delays or the inability to complete
the Company's
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plan of reorganization; the availability and terms of capital in light of recent
losses, cash flow shortfalls and the Company's Chapter 11 bankruptcy filing;
adverse actions which may be taken by creditors and the outcome of various
bankruptcy proceedings; the Company's ability to attract patients given its
current financial position; and the effects of healthcare reform and legislation
on the Company's business strategy and operations. The Company cautions
investors that any forward-looking statements made by the Company are not
guarantees of future performance. The Company disclaims any obligation to update
any such factors or to announce publicly the results of any revisions to any of
the forward-looking statements included herein to reflect future events or
developments.
5
